Statement: Maple Ridge arbitration
12/11/2024
It has been reported on FESCO’s website that a company associated with Mr Ziyavudin Magomedov withdrew its defence in London Court of International Arbitration proceedings
Ziyavudin Magomedov
Ziyavudin Magomedov is a successful Russian businessman and entrepreneur. In March 2018, he was arrested on unevidenced and incoherent embezzlement charges, having fallen foul of Russian state interests.
Ziyavudin Magomedov is a successful independent businessman and philanthropist.
He hails from Dagestan, an ancient region in the Russian Caucasus with a rich history dating back to some of the earliest human settlements almost two million years ago. Sitting at the crossroads between Europe and Asia, the region has been characterised by frequent invasions and fierce local resistance. Despite various attempts by the Persians, Arabs, Turks, Mongols and Russians to subdue and integrate the region, it has always maintained a unique culture and strong sense of independence.
Born in 1968, he graduated with a degree in International Economics from Moscow State University in 1993 and earned a PhD in Economics from the same university in 2000.
Mr Magomedov’s business career began when he and his brother sold electrical appliances and computers out of their university dorm room.
In 2001 Mr Magomedov purchased land in Primorsk, on the Baltic Sea, which was developed into a key commercial port. This was to form the basis of his core business, the Summa Group, which focused on transport construction, management and logistics. The Summa Group expanded quickly – culminating in the purchase of stakes in both the Novorossiysk Commercial Sea Port (NCSP) in 2011 and Far-Eastern Shipping Company (FESCO) in 2012. Summa Group would eventually achieve annual revenues of $10 billion.
In 2010, he became Russia’s representative at the Asia-Pacific Economic Co-operation (APEC), an intergovernmental forum promoting free trade and comprising 21 countries in the Pacific region. In 2012, he was appointed Chairman of ABAC, the APEC Business Advisory Council.
Mr Magomedov also invested heavily in a number of high-profile western technology projects – including Virgin Hyperloop One, where he served as co-executive chairman until his arrest in Russia on confected criminal charges in 2018.
One of Russia’s leading philanthropists, Mr Magomedov established the PERI Foundation to support conservation, and famously helped to finance the restoration of the Bolshoi Theatre in 2011. A longstanding advocate for his home region of Dagestan, he has also supported numerous projects there, funding a range of organisations and activities including orphanages, schools, mosques, and social relief. Over nearly two decades, he has given financial assistance worth more than $300 million to a wide range of good causes in the areas of culture and heritage, education and scientific research, sports and social causes. More can be read about Mr Magomedov’s philanthropic work here.
Charitable work
Philanthropy
Ziyavudin Magomedov is one of Russia’s largest charitable donors.
Over nearly two decades, he has given financial assistance worth more than $100 million to a wide range of good causes in the areas of culture and heritage, education and scientific research, sports and social affairs. In 2012, Mr Magomedov established the PERI Foundation, with a particular focus on education, heritage, and conservation projects.
Updates and insights
Latest news
Statement: Response to recent news articles written about Stockholm arbitration
29/09/2024
Ziyavudin Magomedov was arrested in March 2018 in the midst of an apparent criminal investigation led by Nicolai Budillo, who was previously involved in the
Jailed Russian Tycoon Wins UK Ruling to Block $7.5 Billion Payout – Bloomberg
24/05/2024
A London judge said that a Russian-court ordering Ziyavudin Magomedov to pay billions for pursuing litigation in the UK would be “utterly disproportionate.” Magomedov, who became a
Statement: Maple Ridge arbitration
12/11/2024
It has been reported on FESCO’s website that a company associated with Mr Ziyavudin Magomedov withdrew its defence in London Court of International Arbitration proceedings
Statement: Response to recent news articles written about Stockholm arbitration
29/09/2024
Ziyavudin Magomedov was arrested in March 2018 in the midst of an apparent criminal investigation led by Nicolai Budillo, who was previously involved in the
Statement: Maple Ridge arbitration
12/11/2024
It has been reported on FESCO’s website that a company associated with Mr Ziyavudin Magomedov withdrew its defence in London Court of International Arbitration proceedings